And the good news is that the links are still the most important asset of SEO. Many eminent Googlers have stated this time and again that quality links are important ranking signals. Please read more details here : http://www.brainpulse.com/articles/link-building-articles/link-building-after-penguin-4-0-update.php

With these updates, Google started classifying low-quality links as spam. Hence we must build links from quality and niche relevant sites. The links which are there in the content must direct to related content and add value to the readers.

Penguin 4.0 is the real time update for Google. With this change, Penguin's data is refreshed in real time, so changes will be visible much faster, typically taking effect shortly after we recrawl and reindex a page. It also means we're not going to comment on future refreshes.

Penguin 4.0 is the continuous redesign for Google. With this change, Penguin's information is revived progressively, so changes will be obvious much speedier, regularly producing results soon after we recrawl and reindex a page. It additionally means we're not going to remark on future revives.